Gold inches up as a 9% four-day oil slide eases rate-hike fears

Gold edged higher as a sharp multi-day drop in oil reduced near-term inflation pressures and, by extension, the perceived need for additional Fed tightening. While recent Fed commentary remains hawkish after last week's hike, lower energy prices support real-rate expectations that are typically favorable for bullion. ETF inflows and diplomatic developments around the US-Iran conflict added marginal support across precious metals.